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Use this Low-cost Method to Amplify your Lead Pipeline

It's a simple numbers game: more leads mean more sales potential.  Would you like to ramp up your pipeline with quality prospects, all without ramping up your lead generation budget?  It's easier than you think.  In fact, you already have free access to a group of people that have shown an interest in your company.  You don't even have to process them in your CRM; they are already there...

I am talking about your stale-dated leads.  The ones you had high hopes for at one point, but suddenly vanished into the night, and you never heard from them again.

Stale Leads Can Come Back Again

At what point do you consider a lead to be stale?  6 months?  A year or more?  Whatever it is, this article will explain why you should dust off those old prospects and give them another try.  It is likely worth the effort!

Just because leads are old does not mean they are tapped out. Sure, some of these leads have been up-front in telling you they are no longer interested. You can safely put those aside.  But, I bet the bulk of your leads that have fallen off your pipeline don't have a definitive reason.  Chances are they just stopped responding, and you don't know why.

There are many possibilities as to why a lead does not commit during the initial conversations.  It's possible they realized they need more time to research, save up funds, or finish an existing project. They could have had a sudden family emergency to attend to, which required their full attention.  In all of these cases, you have dropped off of their radar at least temporarily, but it does not mean they are gone forever.  Things change after 6 months to a year, and they could be ready to pick up where they left off.  Are you?

Scary Stats on Lead Generation

According to the all-mighty, it takes 6 or more touches to convert a lead to a sale: An initial call, send some info, a follow up or two, finalize the offer, close the deal.  That seems about right.  What is really scary is the statistic floating around that about 85% of salespeople stop after the 3rd contact and the majority do not even follow up after the first attempt!  So what's happening?  The problem is, simply, volume.  There are only so many hours in the day.  As you continue to gain an influx of new leads, your older ones shift out of focus.  Your time and energy is spent on the fresh inquiry, and you run out of resources to circle back on your stale-dated ones.

Lead Regeneration: Is it worth the investment to call your old leads?

How much do you pay for your leads?  Factoring in your advertising costs, time spent communicating with prospects, payroll wages, etc, you have likely spent quite a few dollars to grab each lead.  In the franchising world, you can spend upwards of $100 per lead, with no guarantee of a sale!  With this amount of investment, it would make sense to maximize your value and get the most out of each one you acquired.

With an effective call strategy, you can attempt to revitalize your old leads at a small fraction of the cost you paid to acquire them in the first place.

SparkTyde Lead Calling

Here's some reasons why SparkTyde is your choice for outsourcing your lead regeneration efforts:
  • Optimization - keep your main resources focused on new business, we'll handle this extra task.
  • Predictable costs - our pay per lead model lets you have complete control over your budget and expectations.
  • Experience - our outbound sales team is made up of professional phone sales callers and appointment setters.  

I'm interested in knowing what you think about stale leads.  How old is old in your current industry?  What is the oldest lead you've ever closed?